Litecoin

Description for Litecoin:

Litecoin is a cryptocurrency that is around for a long time. In many cases it is mentioned as the little brother of Bitcoin.

Litecoin Foundation

Growing the Litecoin environment is the work of the Foundation. This foundation funds and develops the growth of usability and maintains the blockchain. You can find the foundations website here. The managing director or the foundation is Charlie Lee.

Official project link: Litecoin.org

Explorers: Explorer 1

Technical information

Litecoin is running on the script algorithm , and can be mined with special hardware; script asic miners that are available from different manufacturers.

Exchanges

There is no need to give you a link to an exchange for this coin. This cryptocurrency is traded on nearly very coin exchange.

The negative points

There is one negative point with litecoin. They use two sets of addresses on the blockchain. When i use my trezor hardware wallet, the address format is different from the address format on the exchange where i bought the coins. It is not a hard to solve problem , because there are tools to convert one address into another and visa versa. But its still something i dislike in a crypto currency. The way how addresses look, not just for this one, but for nearly every coin , is already hard enough.

Review for Litecoin

There are many positive points to find as well. The coin is widely used as currency in webshops. The number of ATMs where you can use this coin is more then 1000. Many ATMs are placed for bitcoin first, but it is not hard to add other cryptocurrencies, so litecoin is added many times as second coin.
The coin has a strong and supportive community. The coins are distributed over more then three million addresses.
You can mine this currency with mining hardware that is suitable for scrypt mining. Scrypt mining is done with ASIC miners these days.

Last update of this page : 06-11-2019